Regions Financial Co. (NYSE:RF) Shares Purchased by Prudential PLC

Prudential PLC raised its stake in Regions Financial Co. (NYSE:RF) by 241.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,573 shares of the bank’s stock after buying an additional 42,858 shares during the quarter. Prudential PLC’s holdings in Regions Financial were worth $1,425,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Quarry LP lifted its position in shares of Regions Financial by 29.5% during the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after purchasing an additional 394 shares in the last quarter. Ballentine Partners LLC lifted its position in Regions Financial by 2.5% in the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after acquiring an additional 420 shares during the last quarter. Prossimo Advisors LLC boosted its position in shares of Regions Financial by 2.3% in the 4th quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock valued at $453,000 after purchasing an additional 430 shares during the period. Greenleaf Trust boosted its holdings in shares of Regions Financial by 1.8% in the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock valued at $573,000 after acquiring an additional 436 shares during the period. Finally, Lake Street Advisors Group LLC raised its holdings in shares of Regions Financial by 2.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after buying an additional 436 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased a total of 3,868 shares of company stock worth $86,722 in the last three months. 0.29% of the stock is owned by insiders.

Regions Financial Trading Down 4.9 %

RF opened at $18.64 on Monday. The stock has a market capitalization of $16.88 billion, a PE ratio of 9.61, a P/E/G ratio of 1.93 and a beta of 1.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The firm’s fifty day moving average price is $22.88 and its 200 day moving average price is $23.89.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $0.39 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RF. JPMorgan Chase & Co. cut their price objective on Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Barclays upped their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Compass Point increased their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Truist Financial cut their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and an average price target of $26.95.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.